Perhaps you’ve been to a website that displayed the GDCA accreditation logo pictured here at the the left. The GDCA accredited logo, which is meant to assure consumers that the site they are doing business with has been issued this logo because of satisfactory business practices. Although the issuer of these accreditation logos has no ties to any world governmental agencies. They have no “official” status in the financial community, the gold markets or any other affiliation of merit to lend validity to these accreditation logos they distribute except their own “self-proclaimed” authority. Many of you may also be familiar with the organization known as GDCA aka Gold Digital Currrency Association (http://www.gdcaonline.org) and the fact that they have recently issued a warning to E-Bullion users in July 2007, calling upon E-Bullion customers to abandon the processor in lieu of allegations that E-Bullion has frozen accounts . Exerpt below…
Exerpted from : http://www.gdcaonline.org/content/news.html
Due to numerous unanswered complaints, the Global Digital Currencies Association would like consumers and merchants to be aware that E-bullion.com closes and/or freezes accounts without any court order or reasonable justification, sometimes freezing customer funds forever.
This unscrupulous policy makes E-bullion an unfavorable system for online commerce and for the safe and secure storage and transfer of funds.
We recommend that E-bullion account holders switch to a different digital currency immediately in order to avoid frozen accounts and loss of funds, such as:
* GoldMoney - www.goldmoney.com
* Pecunix - www.pecunix.com
* Liberty Reserve - www.libertyreserve.com
* c-gold - www.c-gold.com
* PhoenixDollar - www.phoenixdollar.com
While many people find the reputation of GDCA to be an authority in the industry, a controversy has recently been unveiled by Mark Herpel at Digital Money World. In an very diplomatic, open letter to GDCA published on his blog Open Letter To The GDCA Regarding e-Bullion, Mark asks the GDCA for factual proof to the allegations regarding E-Bullion freezing accounts. If there is one person in this industry I truly have respect for and enjoy his take on prominent issues, it’s Mark and DMW. In the past I’ve exchanged opinions with him on a variety of topics and I’ve always found his approach to be based on intelligent research and facts before fiction.
The reason this blog post has the “Strang Bedfellows” tacked on at the end of the title is due to the discovery, on Mark’s blog, that the President of GDCA is none other than Robert, the owner of C-Gold, and owner of Cyfro Associates who is an anonymous web-hosting company based out of Malaysia that has harboured numerous scammer’s websites in the past and currently hosts Andy from XLO’s fraud CyberSpaceAtm payment processor. Although I have heard a complaint regarding E-Bullion freezing an account that was making a big out-exchange to GoldEx, it turned out the complaintant had been operating a frudulent HYIP program and was trying to get his hand on his ill gotten gains when E-Bullion froze the account, requesting identification information from the fraudster. Otherwise, I have not heard any allegations regarding E-Bullion from honest people who were accessing funds that were not obtained through fraudulent measures.
The fact that GDCA, and their President who is owner of C-Gold (see my C-Gold article here C-Gold : New Gold Based E-Currency or Hoax ?), especially take note of the comments section where “Robert” claims to not know how an autosurf program works, yet he is the President of GDCA, owns C-Gold and has been the domain registrar of both of scammer Andy’s XLO autosurf programs. You may also have seen Andy openly stating on ASAMonitor.com forums that his new program XLOTwo *is* a ponzi and his choice of hosting in Malaysia is to avoid any closure by the US Department of Justice.
Call it coincedence, call it what you will, but I call it Strange Bedfellows, and now that it’s been exposed, I must fully warn any of my blog readers from relying on GDCA information and/or from using C-Gold. It’s more than a conflict of interest, it’s a vested interest of the worst kind.
Editors note: At time of writing this article it appears C-Gold.com website has disappeared.
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Saturday, 3 November 2007
GDCA Warning Against E-Bullion Breeds Strange Bedfellows
Perhaps you’ve been to a website that displayed the GDCA accreditation logo pictured here at the the left. The GDCA accredited logo, which is meant to assure consumers that the site they are doing business with has been issued this logo because of satisfactory business practices. Although the issuer of these accreditation logos has no ties to any world governmental agencies. They have no “official” status in the financial community, the gold markets or any other affiliation of merit to lend validity to these accreditation logos they distribute except their own “self-proclaimed” authority. Many of you may also be familiar with the organization known as GDCA aka Gold Digital Currrency Association (http://www.gdcaonline.org) and the fact that they have recently issued a warning to E-Bullion users in July 2007, calling upon E-Bullion customers to abandon the processor in lieu of allegations that E-Bullion has frozen accounts . Exerpt below…
Exerpted from : http://www.gdcaonline.org/content/news.html
Due to numerous unanswered complaints, the Global Digital Currencies Association would like consumers and merchants to be aware that E-bullion.com closes and/or freezes accounts without any court order or reasonable justification, sometimes freezing customer funds forever.
This unscrupulous policy makes E-bullion an unfavorable system for online commerce and for the safe and secure storage and transfer of funds.
We recommend that E-bullion account holders switch to a different digital currency immediately in order to avoid frozen accounts and loss of funds, such as:
* GoldMoney - www.goldmoney.com
* Pecunix - www.pecunix.com
* Liberty Reserve - www.libertyreserve.com
* c-gold - www.c-gold.com
* PhoenixDollar - www.phoenixdollar.com
While many people find the reputation of GDCA to be an authority in the industry, a controversy has recently been unveiled by Mark Herpel at Digital Money World. In an very diplomatic, open letter to GDCA published on his blog Open Letter To The GDCA Regarding e-Bullion, Mark asks the GDCA for factual proof to the allegations regarding E-Bullion freezing accounts. If there is one person in this industry I truly have respect for and enjoy his take on prominent issues, it’s Mark and DMW. In the past I’ve exchanged opinions with him on a variety of topics and I’ve always found his approach to be based on intelligent research and facts before fiction.
The reason this blog post has the “Strang Bedfellows” tacked on at the end of the title is due to the discovery, on Mark’s blog, that the President of GDCA is none other than Robert, the owner of C-Gold, and owner of Cyfro Associates who is an anonymous web-hosting company based out of Malaysia that has harboured numerous scammer’s websites in the past and currently hosts Andy from XLO’s fraud CyberSpaceAtm payment processor. Although I have heard a complaint regarding E-Bullion freezing an account that was making a big out-exchange to GoldEx, it turned out the complaintant had been operating a frudulent HYIP program and was trying to get his hand on his ill gotten gains when E-Bullion froze the account, requesting identification information from the fraudster. Otherwise, I have not heard any allegations regarding E-Bullion from honest people who were accessing funds that were not obtained through fraudulent measures.
The fact that GDCA, and their President who is owner of C-Gold (see my C-Gold article here C-Gold : New Gold Based E-Currency or Hoax ?), especially take note of the comments section where “Robert” claims to not know how an autosurf program works, yet he is the President of GDCA, owns C-Gold and has been the domain registrar of both of scammer Andy’s XLO autosurf programs. You may also have seen Andy openly stating on ASAMonitor.com forums that his new program XLOTwo *is* a ponzi and his choice of hosting in Malaysia is to avoid any closure by the US Department of Justice.
Call it coincedence, call it what you will, but I call it Strange Bedfellows, and now that it’s been exposed, I must fully warn any of my blog readers from relying on GDCA information and/or from using C-Gold. It’s more than a conflict of interest, it’s a vested interest of the worst kind.
Editors note: At time of writing this article it appears C-Gold.com website has disappeared.
Exerpted from : http://www.gdcaonline.org/content/news.html
Due to numerous unanswered complaints, the Global Digital Currencies Association would like consumers and merchants to be aware that E-bullion.com closes and/or freezes accounts without any court order or reasonable justification, sometimes freezing customer funds forever.
This unscrupulous policy makes E-bullion an unfavorable system for online commerce and for the safe and secure storage and transfer of funds.
We recommend that E-bullion account holders switch to a different digital currency immediately in order to avoid frozen accounts and loss of funds, such as:
* GoldMoney - www.goldmoney.com
* Pecunix - www.pecunix.com
* Liberty Reserve - www.libertyreserve.com
* c-gold - www.c-gold.com
* PhoenixDollar - www.phoenixdollar.com
While many people find the reputation of GDCA to be an authority in the industry, a controversy has recently been unveiled by Mark Herpel at Digital Money World. In an very diplomatic, open letter to GDCA published on his blog Open Letter To The GDCA Regarding e-Bullion, Mark asks the GDCA for factual proof to the allegations regarding E-Bullion freezing accounts. If there is one person in this industry I truly have respect for and enjoy his take on prominent issues, it’s Mark and DMW. In the past I’ve exchanged opinions with him on a variety of topics and I’ve always found his approach to be based on intelligent research and facts before fiction.
The reason this blog post has the “Strang Bedfellows” tacked on at the end of the title is due to the discovery, on Mark’s blog, that the President of GDCA is none other than Robert, the owner of C-Gold, and owner of Cyfro Associates who is an anonymous web-hosting company based out of Malaysia that has harboured numerous scammer’s websites in the past and currently hosts Andy from XLO’s fraud CyberSpaceAtm payment processor. Although I have heard a complaint regarding E-Bullion freezing an account that was making a big out-exchange to GoldEx, it turned out the complaintant had been operating a frudulent HYIP program and was trying to get his hand on his ill gotten gains when E-Bullion froze the account, requesting identification information from the fraudster. Otherwise, I have not heard any allegations regarding E-Bullion from honest people who were accessing funds that were not obtained through fraudulent measures.
The fact that GDCA, and their President who is owner of C-Gold (see my C-Gold article here C-Gold : New Gold Based E-Currency or Hoax ?), especially take note of the comments section where “Robert” claims to not know how an autosurf program works, yet he is the President of GDCA, owns C-Gold and has been the domain registrar of both of scammer Andy’s XLO autosurf programs. You may also have seen Andy openly stating on ASAMonitor.com forums that his new program XLOTwo *is* a ponzi and his choice of hosting in Malaysia is to avoid any closure by the US Department of Justice.
Call it coincedence, call it what you will, but I call it Strange Bedfellows, and now that it’s been exposed, I must fully warn any of my blog readers from relying on GDCA information and/or from using C-Gold. It’s more than a conflict of interest, it’s a vested interest of the worst kind.
Editors note: At time of writing this article it appears C-Gold.com website has disappeared.
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